Mystery bidder takes on Ron Burkle over Morgans Hotel Group

A mystery rival suitor is threatening to derail Ron Burkle’s $800 million bid to buy Morgans Hotel Group — and the investor isn’t happy about it.

The struggling hotel company announced the revised offer from an unnamed bidder on Wednesday, and promptly delayed a shareholder vote on Burkle’s bid until Sept. 26.

In a letter to its board, the company said the rival bidder’s “purported financing source indicated it would provide up to $500 million in capital to support that transaction, but very little information about this financing has been provided.”

Burkle, the co-founder of private equity firm Yucaipa Companies , bid $2.25 per share for the hotel company – or around $800 million. The rival bidder offered $2.75 per share.

Morgans had $575 million in debt and just $11 million in cash at the end of June, the Post reported. In its May issue, The Real Deal went behind the scenes to trace the origins of the company’s woes. [NYP] — Konrad Putzier